Segantii Capital Management Ltd Purchases New Shares in Cummins Inc. (NYSE:CMI)

Segantii Capital Management Ltd bought a new stake in Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,144 shares of the company’s stock, valued at approximately $2,670,000.

Other large investors also recently bought and sold shares of the company. Balentine LLC lifted its holdings in Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after buying an additional 127 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Cummins by 200.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after purchasing an additional 3,866 shares during the period. Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in Cummins in the 3rd quarter valued at approximately $9,048,000. Capital Advisors Inc. OK purchased a new stake in shares of Cummins in the 4th quarter valued at approximately $24,915,000. Finally, SG Americas Securities LLC raised its stake in Cummins by 227.6% during the fourth quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after acquiring an additional 16,869 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE CMI traded up $5.52 during trading hours on Thursday, reaching $294.58. The stock had a trading volume of 627,046 shares, compared to its average volume of 2,512,466. The stock has a market cap of $40.29 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $304.24. The stock has a fifty day moving average of $286.11 and a 200 day moving average of $253.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. Cummins’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $4.52 earnings per share. Sell-side analysts predict that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio is currently 49.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Citigroup boosted their price target on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, February 12th. TD Cowen lifted their target price on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. raised their price target on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Finally, TheStreet cut Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cummins has an average rating of “Hold” and an average price target of $282.55.

Insider Buying and Selling at Cummins

In other news, SVP Tony Satterthwaite sold 37,450 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Tony Satterthwaite sold 37,450 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. Insiders sold a total of 55,169 shares of company stock valued at $14,689,855 in the last ninety days. Insiders own 0.56% of the company’s stock.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.